With a 2.9 percent increase over the past week, US palladium bar was the biggest mover on the weekly Global Precious Metals MMI®. The price of Japanese palladium bar rose 2.8 percent over the past week to JPY 2,158 ($23.66) per gram. This was the third week in a row of increasing prices. Finishing the fourth week of rising prices, the price of Chinese palladium bar increased by 2.3 percent, finishing at CNY 180.00 ($28.94) per gram.
The price of Chinese platinum bar rose 0.8 percent this week, closing out the third week at CNY 359.00 ($57.71) per gram. Closing out the third week of rising prices, the price of Japanese platinum bar increased by 0.7 percent, landing at JPY 4,943 ($54.20) per gram. US platinum bar traded sideways last week, hovering around $1,549 per ounce.
Following a 1.3 percent increase in the week prior, the price of US gold bullion fell 1.5 percent last week to $1,659 per ounce. The price of Chinese gold bullion fell 1.4 percent to CNY 334.38 ($53.75) per gram after rising 1.4 percent the week before. Following a 2.4 percent increase in the week prior, the price of Japanese gold bullion fell 0.9 percent last week to JPY 4,857 ($53.26) per gram. Prices for Indian gold bullion remained constant, closing the week at INR 30,452 ($565.99) per 10 grams.
The price of Chinese silver fell 2.5 percent to CNY 6,310 ($1,014) per kilogram after rising 4.7 percent the week before. Following a 4.8 percent increase in the week prior, the price of US silver fell 2.2 percent last week to $31.18 per ounce. The price of Indian silver fell 1.5 percent to INR 57,816 ($1,075) per kilogram after rising 2.6 percent the week before. At JPY 909.00 ($9.97) per 10 grams, the price of Japanese silver finished the week 0.7 percent higher.
The Global Precious Metals MMI® collects and weights 14 global precious metal price points to provide a unique view into precious metal price trends. For more information on the Global Precious Metals MMI®, how it’s calculated or how your company can use the index, please drop us a note at: info (at) agmetalminer (dot) com.